Europe’s $2 Trillion Energy Reality Check

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Last week’s worst blackout Europe has ever seen in modern times was a wake-up call for the EU – and the rest of the world – that regardless of booming renewable energy capacity installations, power supply will not be secure unless grids are capable and flexible enough to accommodate clean energy and meet rising demand.  

Renewable energy proponents have been touting for years the record-breaking solar and wind capacity additions in Europe and elsewhere, calling at the same time for more investments in grids. With headline-grabbing record renewable installations and reduction of dependence on fossil fuels, the need for trillions of dollars worth of investment in grids may have been overlooked. Until it was too late and Spain’s grid buckled on April 28, leaving the country, most of Portugal, and, for shorter periods of time, parts of France, without electricity and basically ruining (even more) an entire Monday for…

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